Tesla's refresh to best-selling Model Y SUV starts on rocky road
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Supplies are not tight. The refreshed version is available immediately in many parts of the world, with some units already available in Tesla's inventory. That is a far cry from the long wait times typically seen for the previous Model Y, which was the highest-selling car in the world last year.
In fact, overall Tesla sales in Europe continued to plunge in April across key countries, data showed this month. Sales in China dropped over 8% last month, data from the China Passenger Car Association showed on Sunday.
"Short delivery wait times, low-interest loan offers, and weak April registration numbers in China and Europe all point to soft demand for the refreshed Model Y in key markets," researcher Troy Teslike, who follows Tesla, told Reuters.
A slow kickoff for the Model Y - which Tesla has blamed on retooling needed at its factories for the revamp - piles fresh pressure on the company to launch its long-promised cheaper models.
After Tesla reported its first drop in annual deliveries last year, Musk pulled back his forecast of a 30% increase in vehicle sales this year and said simply that Tesla would return to growth. Last month, Tesla said it would revisit that forecast in three months in light of "shifting global trade policy." After a 13% drop in first-quarter vehicle sales, analysts expect Tesla deliveries to fall again this year.
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